Updated Dec 4, 2024
College West Partners Sells Raising Cane’s Chicken Fingers Restaurant In Santa Maria For $5.1M
485 East Betteravia Road
$5,100,000
$1,607/SF
Building Size
3,172 SF
Asset Type
Retail
Closing
Dec 21, 2023
About this deal
AI
A Raising Cane’s Chicken Fingers restaurant located at 485 East Betteravia Road in Santa Maria has been sold for $5.1 million. The transaction was completed by Tustin-based College West Partners, who sold the 3,172-square-foot building as part of the Enos Ranch development. The property was built in 2022 and is situated in Santa Maria's retail market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,100,000
- Address: 485 East Betteravia Road
- Market: Santa Maria
Alexander Moore, Kevin Fryman, and Sean Cox of Hanley Investment Group represented College West Partners in the sale of the Raising Cane’s Chicken Fingers restaurant. The transaction was completed with a Los Angeles investor as the buyer.
On the Map
$5,100,000
$1,607/SF
Retail
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Players
Santa Maria Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93